Wet Seal announced it will close its doors after finalizing Chapter 11 bankruptcy last week.

Gordon Brothers and Hilco Merchant Resources announced the remaining 137 Wet Seal stores and WetSeal.com have begun the closing process with 40- 60 percent off apparel.

Discounts will only increase as the finals days near.

Citing a letter dated Jan. 20, the Wall Street Journal says that Wet Seal Vice President Michelle Stocker stated that the retailer could not find the funding or partnership it needed, and “will receive no further financing for its operations.’

Founded in Newport Beach, Calif., in 1962, it grew from a small swimwear destination to a popular, and once profitable, store chain that mixed trendy, teenage attire along with swimsuits. Wet Seal exported a California vibe to malls across the nation.

The surf-and-sun store hit its consumer peak in 2002 and hoped for another peak after developing into a privately-run company. It fell flat in 2015 after the initial bankruptcy file and closure of two-thirds of the company’s retail locations.

It couldn’t compete with comparable retail stores such as Forever 21 and H&M. Thus, the company was unable to obtain the necessary capital or partner, leaving it in the final steps of the bankruptcy process on Feb. 2, the joint corporations said.

In addition to Visalia, stores around the Valley in Fresno, Hanford, Bakersfield and Merced will also close its doors.